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Tuition Fee Loan Scheme

(for Graduate Students only)

Graduate students who require financing for their tuition fees may apply for a loan under the Tuition Fee Loan (TFL) scheme. The maximum loan quantum is 90% of the tuition fees payable by Singapore Citizens for the same course.

Eligibility
With effect from AY2008/09, only students who enroll under the following programmes are eligible to apply for the TFL:

Interest Rate
Interest at the average of the prime rates of DBS, OCBC and UOB, prevailing on the first day of each quarter or at such other rates as may be determined from time to time will be chargeable on the loan upon graduation of the borrower. Interest will be chargeable with effect from the following dates based on the graduation period:

Graduation period

Interest chargeable with effect from

1 January to 30 June

1 August in the year of graduation

1 July to 31 December

1 March in the year following graduation

For this purpose, "graduation" shall be deemed to have taken place when the borrower passes the final examination (main or re-examination) or is deemed to have fulfilled all the requirements for the award of the degree. Interest is computed on a monthly rest basis on a 365-day year. In the event that the borrower leaves NUS without completing the graduate programme, interest will be chargeable with effect from the first day of the month immediately following the month in which notification is given to the bank.

Repayment
The repayment terms are as follows:

Repayment of the loan can be in one lump sum or by equal monthly instalments commencing not later than two years from the date that interest is first chargeable on the loan.

The minimum amount of repayment is $100 per month and the maximum repayment period is 20 years.

In the event that the borrower leaves the University without completing the graduate programme, the loan outstanding will immediately become due and payable. The borrower may, however, repay the outstanding sum by monthly instalments on such terms and conditions as the University may allow depending on the circumstances of each case.

Early repayment of the loan in full or in part will be allowed after 7 working days' written notice has been given. Partial repayment may be made in multiples of $1,000.

Guarantor
One guarantor above 21 years but not exceeding 60 years will be required. There is no minimal income requirement. Applicants who are Singapore citizens must provide guarantors who are Singapore citizens.

Late Payment Charge
Penalty interest will be levied at the rate of 1% per month on instalments in arrears.

The University has appointed the following banks as agents to administer the TFL scheme:

First-time applicants and the respective guarantors are required to call personally at the bank with the completed application form (which must be signed in the presence of a bank officer), respective identity cards/passports and the letter of offer of admission to support the loan application. Applications must be submitted by the second week of the semester. In the case of research students who are admitted during the semester, applications must be submitted within the first two weeks of the date of registration.

Students who require further clarification on the TFL scheme may contact: